Al Ansari Exchange has announced that it has signed an agreement with FSI Capital.

Al Ansari Exchange, a leading foreign exchange and worldwide remittance company in the UAE, has announced that it has recently signed an agreement with FSI Capital, a leading non-deposit microfinance provider of financial products and solutions in Kenya, to launch the Mobile Wallet Remittance service, becoming the first remittance company in the UAE to offer money transfer facility to Kenya via mobile phones. The Mobile Wallet Remittance simplifies the money transfer process by allowing customers to use their mobile phone to complete the transaction.

Al Ansari Exchange further revealed that customers sending money to Kenya simply have to indicate the name of the beneficiary, the beneficiary’s mobile number and the amount to be transferred. Recipients in Kenya can likewise use their mobile for cash withdrawal from any of FSI Capital’s more than 20,000 outlets, purchase airtime, pay bills, purchase goods, conduct P2P (Phone to Phone) transfers or mobile banking.

Rashed Ali Al Ansari, General Manager, Al Ansari Exchange, said: “It has always been our strategy to deliver practical solutions to address the various financial challenges that our customers face, both within the country and outside. For instance, customers in Kenya are facing difficulties due to the limited availability of financial services especially in rural areas. Hence, the Mobile Wallet Remittance service is a step in this direction as it simplifies the entire money transfer process, allowing our customers to safely send and receive money through their mobile phones virtually anywhere and anytime in Kenya, making it an ideal solution to the geographical challenges imposed by vast lands and limited financial services coverage. Al Ansari Exchange is the first to offer this service to Kenyans living in the UAE, further reaffirming the company’s leadership status and underlining our continuing thrust to expand and broaden the scope of our personalized financial solutions. Moreover, our partnership with FSI Capital demonstrates our commitment to build strong alliances that ultimately empower us to provide enhanced services and satisfy the expectations of our customers.”